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OIL TECHS: NYMEX RBOB: (U18) Continued Progress Towards Range Highs
*RES 4: $2.4600 - Channel high  
*RES 3: $2.2467 - High May 22 
*RES 2: $2.1741 - High May 31 
*RES 1: $2.1531 - High July 10 
*PRICE: $2.1427 @ 05:012 GMT 
*SUP 1: $2.0386 - High Aug 21 now support 
*SUP 2: $1.9896 - 200-DMA 
*SUP 3: $1.9671 - Low August 16 
*SUP 4: $1.9061 - Low April 6 
Yesterday's solid gains took out the July 27 high and tested the July 10 high at
$2.1531 as upside momentum builds. Resistance levels continue to be gradually
eroded as the solid base formed at the 200-dma creates a launch pad for further
gains. A break above the July 10 high would target the multi-year high at
$2.2467. Bears need a close below $2.0386 to turn the outlook neutral but the
$1.96-1.98 area is likely to be keenly defended on any weakness.

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